SoNature:
Why is it that Nigerian refineries don't refine PMS? What is so special about PMS that we don't refine it yet?

If we can surpass OPEC crude oil quota and supply the excess to meet our local demands and refine PMS in Nigeria, I don't see why this country should be spending so much to subsidize petroleum products.

SoNature:
Why is it that Nigerian refineries don't output PMS? What is so special about PMS that we don't refine it yet?

If we can surpass OPEC crude oil quota and supply the excess to meet our local demands and refine PMS in Nigeria, I don't see why this country should be spending so much to subsidize petroleum products.

DeepSight:


If you seriously believe that removal of the subsidy in '93 would have ensured we have six refineries now, you don't know jack shit about this country.

Even if we buy petrol for 10k per litre, all the money made or saved thereby will still be stolen.

nairalanda1:


See the GSM thing. Before GSM, there was NITEL, which despite being subsidised was only for the rich.

GSM came, was so expensive intially that most people could not afford it. ...then the GSM companies made insane profit, and as a result, more investment came in and prices fell.

The thing is if subsides were removed in 1993, it would have made domestic refining profitable. And thus refineries would spring up well well.

It doesn't mean we get cheap fuel though....but it means things would be better.

Jackson105:


Keep barking.

toujurs:
Mumu, Is Peter obi the president. . This is how we know, illiterates, what's P.O business in this conversation.

Face elrufai coward. After voting a druggie into power, you still have mouth to talk about, someone going about his personal life.

You supported a failure into power, this is the most divided nation, ever since independence, and it's obvious the druggie, has no clue. What's going on.

He should empty the dollar reserve, while trying to decieve his gullible followers, that dollar is loosing value.

Fujiyama:


^^^
Your last sentence is what US nationals would call a 'cop out'.

You constantly refer to the GSM example because it is convenient to do so. The events that took place in the telecoms industry are a matter of history. Anyone can talk about it.

You avoid making any bold statement about the direction of fuel prices...and you instead decide to hedge shamelessly with comments like your last line: "things will be better but Nigerians may or may not get 'cheap' fuel". What does that even mean? What exactly is 'cheap' fuel? 10 Naira per litre? 100 Naira per litre?

If you are sure of the predictive power of your model then make your asertions and stand by them. You can't use the GSM example as a testimony to the power of subsidy removal...and then you equivocate when it comes to fuel. That won't work here.

If NITEL subsidy was removed, GSM companies came in with very high costs, etc. and today SIM cards are being given away for free, then you should be bold enough to make the same predictions for the oil sector.

Say what you mean and mean what you say.

SoNature:


That's not the reason. There's a technical explanation (cracking or fractional distillation) for it. Even the Waltersmith Modular Refinery doesn't output PMS at the moment.

DeepSight:


You simply think Nigeria succumbs to reason and logical analysis like most other countries. You dont know anything about your country.

Mideh95:
The federal government is not subsidizing any petrol. A barrel of crude oil in the international market is $85 as at today, that’s the equivalent of $0.51/liter. Convert $0.51 to the current exhange rate of $1100, you get naira 561. According to the international market a price of a liter of fuel is naira 561.

Mideh95:
It hurt me so much that people who have held sensitive position in Nigeria can’t calculate this easy mathematics.

Mideh95:
The federal has not subsidized petrol since tinubu was president.

Yorubaponu:





We Yoruba are coward . We can only attack people from South South and South East .

jmoore:
'subsidy is gone' by Tinubu was a scam.

It is a double tragedy of Tinubulation.

Tinubu increased the price of petrol from 165 naira to 650 naira, this is no 1 driving force of inflation. And he's paying more subsidy than ever before through the back door.

nairalanda1:


And the APC Jokes will come and say ...HE IS NOT PAYING SUBSIDY.

There has been a subsidy since October last year, otherwise fuel would have been costing N1000 or more. The government wants to stay in power, which is why they keep the subsidy.

The funny thing is there are people who oppose tinubu, blast him for wasting money on subsidy, and lying about it, and then turn around to support the same subsidy.

If the subsidy had gone in 1993, by now we would have had more than six working refineries, and a ton of exports of petrochemicals. But Nigerians WANT CHEAP THINGS.

JAOS:
when we try to let them know they say we hate the country only useless set of persons believe the country is making gains what they are doing is tasking the masses to pay for subsidy and defending the naira apc and bad governance are one

nairalanda1:


Well, all I know is that areas of the economy where people can set their prices don't suffer from corruption and bad service.

Areas of the economy that are subsidise do

free2ryhme:


Is that you are happy seeing the masses aaaaaaaaa.

Moniya4Real:
Watching as enemies of Nigeria will eagerly agree with him, even though they do not like Elrufai

rantingpigs:
The COWARDice in the SW is alarmingly toxic.

That is why they are the number 1 unity BEGGARS.

Even El Rufai is not afraid to insult them ceaselessly.. ;DI know bleeting of goats and manufacturer of fake spare parts .

DeepSight:


You are off the mark because the point is private ownership of business, which ensures a market determined price and with subsidies, a differential is paid to meet the market price anyway.

Look, subsidies are a reality even in the biggest and most capitalist economies, in Nigeria we have been sold the lie that subsidies are the root of our problem. It is not subsidies but demonic corruption without limit, that is our problem. In only a few short years, the subsidy being paid on PMS jumped from two hundred and something billion to over six trillion. What is that if not black magic and the most satanic corruption imaginable.

After stealing the place blind, the government then turns around to shift the burden for the theft to the people. The government shouted to high heavens that there was corruption in the subsidy regime, but is yet to prosecute even one single marketer or govt official in that regard. What does that tell you? The more you look, the less you see.

Subsidies were never the problem, corruption is the always the problem.

hedonido:
Bastards. Playing ping pong with the brainless masses according to their political interests and financial benefits. But the most annoying part is that some very 'useful' idiots posing as 'intellectuals' are ever ready to support them.

nairalanda1:



Subsides in capitalist countries are production subsides.

Which we don't do here in Nigeria, we do the very expensive consumption subsides

Then in capitalist countries, government does not come and set price of petrol. In some areas, they even add tax on top.

At the end, subsides is why we don't have working refinery.

Ghana and Niger have working refineries, and zero subsidy.